U.S. stocks rose Monday to start a busy week of corporate earnings. There were several important developments taking place today: the S&P500 closed above 3000, Nasdaq got close to an important 8000 level, while JPM and AAPL continued to make new all time highs.
U.S. stocks fell Friday on global growth worries sparked by the Chinese macro data, but the S&P500 still closed the week with gains after a strong kickoff to corporate earnings season. The following two weeks will hold the key to the next big move.
U.S. stocks rose Thursday, stoked by solid earnings reports from Netflix, Morgan Stanley and others, as well as a preliminary Brexit deal that has the potential to remove a major obstacle facing investors.
Wall Street lost its bullish momentum on Wednesday as weak U.S. economic data and simmering geopolitical tensions spooked buyers away from the equities market, despite a string of generally positive third-quarter earnings reports.
Stocks surged Tuesday as the third-quarter earnings season got underway and strong results from a number of bellwether companies offset concerns from the day before about the apparent truce in the US-China trade dispute.
We had a fairly slow day today. However, volatility is expected to pick up with the start of the earnings season. Big banks report tomorrow and other big names later this week.
Market participants expected the US and China to announce a trade deal on Friday adding fuel to the bullish momentum from Thursday. Initially, investors cheered a partial trade deal with China but soon realized there is no clear timeline for removing existing tariffs. This resulted in a market’s mini washout into the session close.
Stocks rose Thursday, as high-level trade negotiations between the U.S. and China kicked off. The S&P500 tape as well as the price action was mostly bullish today. As a result, the three major indices closed above their respective 50d MAs. Let’s see how the market model indicators changed after today’s action.
The market is primarily driven by hope and fear. Today’s environment is a great testament of this: bulls and bears are anxious to know the final outcome of the trade talks between the U.S. and China and this anxiety translates into chaotic market’s price movements.